Data, Entrepreneurship and Business Strategy

The ability to create great customer experiences is becoming increasingly important in today's market. As consumers, we all desire a personalized experience when shopping. Companies that continue to succeed in today's market will have an effective strategy for collecting relevant data about their customers. Today we're going to cover some of the reasons why you should start collecting customer data. Personalization Creating an effective personalized experience starts with the right data and leads to a competitive advantage in the market. Think about any time that you went to a restaurant and had a waitress/waiter that goes beyond your expectations. Also, reflect on a time when a waitress/waiter tarnished your experience by forgetting the specifics of your order. The difference between a negative and positive experience partially exists within the details of the customers personal expectations. Employing an effective data collection strategy will help you have a more...

We live in a world that thrives on making information-driven decisions. Data science is a scientific technique of gaining insight into patterns and trends in data. Although there are many ways data science applies to our daily lives we’re going to focus on three ways Data Science is shaping our lives. We’re in an age where Data Science makes being an informed consumer easy as clicking a button. One of the most powerful tools for everyday consumers is Google. You have the ability to research any topic you desire and get accurate and relevant information within seconds. If a person wanted to travel to another part of the world, they could gather all the information needed for their trip online. Relevant resources would come up in the search based on the search terms. Personalization is key to the success of any consumer oriented company in today’s market. Spotify has become one of the largest music streaming services in the world. Becoming a monthly subscriber with Spotify at...

Sales organization waste most of their time prospecting instead of closing deals. Studies show that over 98% of a sales professional time is wasted on prospecting. Machine learning has the power to supplement the heavy lifting of prospecting through automation. Today we’re going to cover three tips for automating your prospecting. Gathering the Data Anything that can be tracked can be improved is more than a cliche statement.  Start with creating an efficient process to track all sales related behavior and decision making using a customized CRM tool. Get Everyone involved by creating a lead rating system and a record of thoughts and actions on every account. This process will eventually provide you with a solid understanding of what information is important to the sales team. 2. Identifying Important Data Gathering the right data is a key factor in building a robust prospecting tool that serves your organization’s success. This is a tedious process that involves multipl...